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Renewed DOJ Fraud Focus Should Worry Bank Execs

U.S. Attorney General Eric Holder’s proposal Wednesday to raise the cap on rewards for certain financial industry whistleblowers and make a renewed effort to pursue criminal financial fraud cases should give bank executives pause as they consider the prospect of prosecutors knocking on their doors, attorneys say.

  • Auxilium Takes Poison Pill After $2.2B Endo Offer

    Auxilium Pharmaceuticals Inc. has swallowed a poison pill the day after receiving a $2.2 billion unsolicited takeover offer from pharmaceutical company Endo International PLC, rebuffing the deal on Wednesday as it pursues a merger with Canadian eye-drug maker QLT Inc.

  • Family Dollar Snubs 'Meaningless' $9.1B Dollar General Bid

    Family Dollar Stores Inc. on Wednesday spurned a sweetened $9.1 billion tender offer from rival Dollar General Corp., telling its shareholders the deal proposal was “meaningless” because it wouldn't clear an antitrust review.

  • Holder Calls For Higher Awards For Wall St. Whistleblowers

    U.S. Attorney General Eric Holder on Wednesday called for bigger awards to Wall Street whistleblowers than what currently are available under the 1989 law that’s helped the federal government extract multibillion-dollar penalties from banks over their role in the mortgage crisis.

  • Akin Gump Plucks 22 From Bingham's Europe, Asia Offices

    Bingham McCutchen LLP, already suffering from staggered profits and dozens of partner exits in recent months, suffered another blow Wednesday with the announced loss of 22 partners in London, Frankfurt and Hong Kong to Akin Gump Strauss Hauer & Feld LLP.

  • Ex-Dewey Controller Reaches Partial Deal With SEC

    Former Dewey & LeBoeuf LLP controller Thomas Mullikin has reached a partial settlement with the U.S. Securities and Exchange Commission that would resolve his liability in the agency's suit over the firm's collapse while leaving open the issue of a potential disgorgement order or fine, according to Tuesday court filings.